Copenhagen Infrastructure Partners (CIP) has made the final investment decision (FID) for a 220MW battery energy storage system (BESS) in northern Chile's Antofagasta region.
The Arena BESS project is set to become one of the first large-scale storage systems in the country and will help shift excess solar energy generated during the day to night-time use, reducing dependence on fossil fuels during peak demand periods.
The facility, with a capacity of 220MW/1000MWh, will be funded through CIP's Growth Markets Fund 2 (CI GMF 2). Its location benefits from the region's abundant solar resources and proximity to transmission infrastructure and industrial energy hubs.
This positioning will enable the project to support the integration of large-scale solar projects into Chile's grid system, boosting the country's renewable energy transition.
Ole Kjems Sorensen, partner at CIP, emphasized the significance of the project as CIP's first energy storage investment in Chile, describing it as a cornerstone of their strategy in Latin America.
Associate partner Peter Halmo added that Arena BESS is a vital step in achieving Chile's renewable energy goals, positioning battery storage as key to balancing solar power generation and consumption across the grid.
